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HCL Technologies Hits Record High After Mid-Quarter Business Update

By Staff
|

On Monday, shares of HCL Technologies rose over 6 percent to touch a record high of Rs 767.80 on BSE after the company released its mid-quarter business update.

The company said that it expects the revenue and the operating margin for the current September-ended quarter to be "meaningfully better" than the top end of the guidance we had provided in July 2020.

HCL Technologies Hits Record High After Mid-Quarter Business Update
 

"We have seen strong execution during the quarter to date, and continue to execute to the plan this month," HCL Technologies said in a stock exchange filing.

"The Revenue growth for the current quarter is expected to exceed 3.5% quarter on quarter in constant currency, enabled by broad-based momentum across all service lines, verticals and geographies," it said adding that the EBIT% (earnings before interest and taxes percentage) for the current quarter is expected to be between 20.5 percent and 21 percent.

"Good Booking momentum continues this quarter, led by Life Sciences & Healthcare, Telecom & Media and Financial Services verticals," it said.

"The pipeline continues to look healthy across service lines, verticals and geographies," it added.

Read more about: hcl technologies
Story first published: Monday, September 14, 2020, 9:57 [IST]
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